Revolving Credit Facility and further investment

RNS Number : 1598U

GCP Asset Backed Income Fund Ltd

13 January 2017

 

NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR THE UNITED STATES OF AMERICA OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

GCP Asset Backed Income Fund Limited (the "Company" and /or "GCP Asset Backed Income")

Revolving Credit Facility and further investment

13 January 2017

GCP Asset Backed Income, which invests in asset backed loans, is pleased to announce that a two year £15 million revolving credit facility has been entered into with Royal Bank of Scotland International Limited.  All amounts drawn under the facility will be used in accordance with the Company's borrowing and gearing policy.

Further, the Company today announces a £3.1 million extension to the £10.8 million social infrastructure loan facility announced on 23 December 2016.  The revised £13.9 million facility, which will be issued in tranches, is secured on a senior basis against the underlying units and leases and is subject to upward-only principal indexation.

For further information, please contact:

Gravis Capital Partners LLP		[phone]
David Conlon	[e-mail]
Philip Kent	[e-mail]
Dion Di Miceli	[e-mail]
Cenkos Securities plc		[phone]
Tom Scrivens	[e-mail]
Oliver Packard	[e-mail]
Sapna Shah	[e-mail]
Buchanan		[phone]
Charles Ryland	[e-mail]
Victoria Hayns	[e-mail]

Notes to Editors

The Company

GCP Asset Backed Income is a closed ended investment company traded on the London Stock Exchange's main market for listed securities. Its investment objective is to generate attractive risk-adjusted returns primarily through regular, growing distributions and modest capital appreciation over the long term.

The Company seeks to meet its investment objective through a diversified portfolio of investments secured against contracted, predictable medium to long term cash flows and/or physical assets which are predominantly UK based.

 

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